Alight (NYSE:ALIT) Stock Rating Reaffirmed by DA Davidson

DA Davidson restated their buy rating on shares of Alight (NYSE:ALITFree Report) in a research note published on Thursday, Benzinga reports. They currently have a $12.00 price target on the stock.

ALIT has been the subject of several other research reports. KeyCorp reduced their target price on shares of Alight from $12.00 to $11.00 and set an overweight rating for the company in a report on Thursday, May 9th. UBS Group lifted their target price on shares of Alight from $12.00 to $13.00 and gave the stock a buy rating in a report on Thursday, March 21st. Canaccord Genuity Group boosted their price objective on shares of Alight from $12.00 to $13.00 and gave the company a buy rating in a report on Thursday, March 21st. Needham & Company LLC cut their price objective on shares of Alight from $13.00 to $11.00 and set a buy rating for the company in a report on Thursday, May 9th. Finally, Wedbush cut their price objective on shares of Alight from $14.00 to $12.00 and set an outperform rating for the company in a report on Friday, May 10th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $12.00.

Read Our Latest Report on ALIT

Alight Stock Performance

Shares of ALIT stock opened at $7.61 on Thursday. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of -12.27, a PEG ratio of 1.24 and a beta of 0.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.57 and a current ratio of 1.57. The company has a 50-day simple moving average of $8.18 and a 200 day simple moving average of $8.67. Alight has a 52 week low of $6.33 and a 52 week high of $10.38.

Alight (NYSE:ALITGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $816.00 million during the quarter, compared to the consensus estimate of $832.41 million. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. On average, sell-side analysts predict that Alight will post 0.52 earnings per share for the current year.

Insider Transactions at Alight

In other news, insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares of the company’s stock, valued at approximately $28,394,945.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Stephan Scholl sold 83,016 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the transaction, the chief executive officer now directly owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now owns 2,927,314 shares of the company’s stock, valued at $28,394,945.80. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alight

A number of institutional investors have recently added to or reduced their stakes in ALIT. DekaBank Deutsche Girozentrale acquired a new position in Alight in the 3rd quarter valued at approximately $52,000. First Horizon Advisors Inc. increased its position in Alight by 38.9% in the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock valued at $58,000 after acquiring an additional 1,897 shares during the period. Motco acquired a new position in Alight in the 1st quarter valued at approximately $95,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Alight in the 3rd quarter valued at approximately $109,000. Finally, Duality Advisers LP acquired a new position in Alight in the 1st quarter valued at approximately $119,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

About Alight

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Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.

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Analyst Recommendations for Alight (NYSE:ALIT)

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